New Fortress Energy Inc. (NASDAQ: NFE) stock fell -2.57% on Monday to $30.69 against a previous-day closing price of $31.50. With 2.06 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.28 million shares. During the session, the Utilities – Regulated Gas company that operates in wider Utilities sector, reached to the highest price of $31.64 whereas the lowest price it dropped to was $30.41. The 52-week range on NFE shows that it touched its highest point at $60.33 and its lowest point at $25.06 during that stretch. It currently has a 1-year price target of $44.89. With its current market cap of 6.43 billion, NFE has annualized dividend of $0.40 while the current yield stands at 1.30%. Beta for the stock currently stands at 1.54.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NFE was down-trending over the past week, with a drop of -2.39%, but this was up by 5.57% over a month. Three-month performance surged to 2.44% while six-month performance rose 12.21%. The stock lost -43.04% in the past year, while it has lost -27.65% so far this year. A look at the trailing 12-month EPS for NFE yields 1.90 with Next year EPS estimates of 5.60. For the next quarter, that number is 0.62. This implies an EPS growth rate of 92.50% for this year and 65.09% for next year.
Float and Shares Shorts:
At present, 205.04 million NFE shares are outstanding with a float of 88.14 million shares on hand for trading. On Aug 30, 2023, short shares totaled 9.9 million, which was 4.83% higher than short shares on Jul 30, 2023. In addition to Mr. Wesley Robert Edens as the firm’s Founder, Chairman & CEO, Mr. Christopher S. Guinta serves as its Chief Financial Officer.
Institutional Ownership:
Through their ownership of 54.05% of NFE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 83.07% of NFE, in contrast to 27.88% held by mutual funds. Shares owned by individuals account for 18.72%. As the largest shareholder in NFE with 12.47% of the stake, Great Mountain Partners LLC holds 25,559,846 shares worth 25,559,846. A second-largest stockholder of NFE, Capital Research & Management Co, holds 10,782,553 shares, controlling over 5.26% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in NFE, holding 5,921,149 shares or 2.89% stake. With a 2.01% stake in NFE, the American Funds Small Cap World Fu is the largest stakeholder. A total of 4,116,300 shares are owned by the mutual fund manager. The American Funds Growth Fund of Ame, which owns about 1.67% of NFE stock, is the second-largest Mutual Fund holder. It holds 3,417,776 shares valued at 106.09 million. American Funds New World Fund holds 1.46% of the stake in NFE, owning 2,994,095 shares worth 92.94 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, NFE reported revenue of $584.86M and operating income of $186.67M. The EBITDA in the recently reported quarter was -$127.80M and diluted EPS was -$0.81.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NFE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With NFE analysts setting a high price target of $61.00 and a low target of $32.00, the average target price over the next 12 months is $46.40. Based on these targets, NFE could surge 98.76% to reach the target high and rise by 4.27% to reach the target low. Reaching the average price target will result in a growth of 51.19% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Dividends & Yield:
In terms of dividends, NFE has a current ratio of $0.4, which is $0.4 over the trailing 12-months. Dividend yield is another indicator that appeals to many investors, and NFE currently yields $10.75. In the past year, NFE’s dividend yield has been $10.75. Accordingly, NFE has a current buyback yield of $0.0. This was $0.0 for the TTM.
Summary of Insider Activity:
Insiders traded NFE stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 18 while that of sell transactions has risen to 5 over the past year. The total number of shares bought during that period was 238,999 while 6,956,742 shares were sold.
